Bitcoin Cash successfully forked at about 18:00 London time with no apparent problems at a technical level at the time of writing.
Activity considerably rose on the Bitcoin Cash chain ahead of the fork with a million coins or more on the move as battle appeared to loom.
Bitmain alone was rumored to have sent some 300,000 BCH to an exchange, but a fog descended over hash movements.
Services went down, intentionally or otherwise. Metaphoric troops on the move. Then China leaked. The war appeared over:
“The http://Bitcoin.com pool now has more hash rate on it than the entire BCH network had earlier today. Bitcoin is cash for the world!” Roger Ver said.
“Game on,” replied the now silent alleged scammer Craig Steven Wright (CSW).
A now deleted tweet by Jiang Zhuoer of BTC.TOP suggested there might have been an attempt at some sort of attack, with the attacking block orphaned.
BCH supporting hashrate quickly gained the upper hand once the chains split due to an incompatible block mined by SVPool.
There was a somewhat tight race initially, but soon Roger’s hash – aided by BTC.com – left the alleged scammer in the dust.
As it stands, Calvin Ayre and his partner – alleged fraudster CSW – can not even keep up with new blocks on BCH, let alone attempt to attack it while still running the BSV chain.
Meaning, as expected on these pages, that this was just entertainment for they have been absolutely crushed so far.
Attention now turns to the actual show. Exchanges have not yet turned on the real trading of the two coins. They probably will soon enough as CSW’s rabble is shown to be a bluff because he clearly has been way overpowered on the protocol side by just Ver’s hash.
As stated, huge sums of BCH are/were on the move. The trading war might now loom. There, it’s a more protracted affair. CSW so now having his coin, which he controls, he may shift his rhetoric from any serious hash stuff to more fun price matters.
The question there is of course what are Calvin Ayre’s thoughts. One can easily see him feeling burned or tired, but they’re both silent right now, meaning they are plotting.
They obviously can’t plot where hash is concerned, but Ayre has been mining BCH for some time. So he may have ammo on the price front.
That should, logically, create value for both coins, but that remains to be seen as they haven’t quite played it all well so far.
We can’t quite have a show without crypto’s favorite boy. There were many livestreams, with Vitalik Buterin, Chief Scientist at the Ethereum Foundation, being in one:
We never thought it conceivable that these two men would pose an existential threat to cryptos and according to data so far they are no where near being in any way a serious threat.
More just fun and games in this decisive year that perhaps quite surprisingly has so far turned out to be less decisive and more a cheering of crypto as far as fundamentals are concerned, and as far as events have unfolded.